Dublin, Aug. 27, 2024 (GLOBE NEWSWIRE) -- The "Precision Weeding Market - A Global and Regional Analysis: Focus on Application, Site of Application, Type, and Competitive Landscape - Analysis and Forecast, 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global precision weeding market is projected to reach $10.65 billion by 2034 from $1.81 billion in 2023, growing at a CAGR of 17.74% during the forecast period of 2024-2034.
The precision weeding market is emerging as a significant sector within agricultural technology, driven by the increasing demand for sustainable farming practices and enhanced crop yields. This market involves the use of advanced technologies such as machine learning, robotics, and artificial intelligence to identify and eliminate weeds with high precision, thereby minimizing the use of herbicides and reducing environmental impact.
The adoption of precision weeding is particularly gaining traction in regions with stringent environmental regulations and a high prevalence of herbicide-resistant weeds. Key players in the market are continuously innovating to improve the accuracy and efficiency of their solutions. Factors such as rising labor costs, the need for sustainable agricultural practices, and technological advancements are propelling the growth of the precision weeding market.
Additionally, government initiatives promoting precision farming and the increasing availability of funding for agri-tech startups are further accelerating market expansion. As the agriculture industry continues to evolve, precision weeding is poised to play a crucial role in the future of farming.
Market Segmentation
Segmentation 1: by Application
- Agriculture
- Non-Agriculture
The agriculture segment is one of the prominent application segments in the global precision weeding market.
Segmentation 2: by Site of Application
- Open Field
- Controlled-Environmental Agriculture
The global precision weeding market is estimated to be led by open field in terms of site of application.
Segmentation 3: by Type
- Weed Detection Platform
- Weed Management: Robotic Weeder, Drone or UAV Sprayer, and Integrated Retrofit Technology
The global precision weeding market is estimated to be led by the weed management segment in terms of type.
Segmentation 4: by Region
- North America - U.S., Canada, and Mexico
- Europe - Germany, France, Italy, U.K., and Rest-of-Europe
- Asia-Pacific - China, India, Japan, South Korea, and Rest-of-Asia-Pacific
- Rest-of-the-World - U.A.E, Brazil, and Others
In the precision weeding market, North America is anticipated to gain traction in terms of precision weeding.
Recent Developments in the Global Precision Weeding Market
- In February 2022, Naio Technologies launched a new Orio agriculture robot. This strategy strengthened the product portfolio of the company.
- In January 2023, Greeneye Technology partnered with Farmers Business Network. Through this partnership, Greeneye would fuel its growth and expansion in the U.S. market and beyond.
- In April 2023, FarmWise launched a next-generation weeding implement named Vulcan. Vulcan can differentiate and identify plants and remove weeds with high precision by using computer vision and deep learning models.
- In March 2022, Deere & Company launched See & Spray Ultimate. It was developed with the expertise of Blue River Technology, an artificial intelligence developer acquired by Deere & Company in 2017. This enhanced the product portfolio of the company in the precision weeding market.
Demand - Drivers and Limitations
The following are the demand drivers for the global Precision Weeding Market:
- Increasing Technological Advancements
- Growing Concerns about Herbicide-Resistant Weeds
The market is expected to face some limitations as well due to the following challenges:
- High Initial Cost of Precision Weeding Technologies or Equipment
- Increasing Cyberattacks and Rising Concerns over Data Security
How can this report add value to an organization?
- Product/Innovation Strategy: The product segment helps the reader understand the different precision weeding equipment and solutions. Moreover, the study provides the reader with a detailed understanding of the global precision weeding market. Furthermore, there is a growing demand for reliable and cost-effective precision weeding. Manufacturers can seize opportunities to design and produce next-generation precision weeding equipment.
- Growth/Marketing Strategy: The global precision weeding market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the global precision weeding market.
- Competitive Strategy: Key players in the global precision weeding market analyzed and profiled in the study involve precision weeding manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the global precision weeding market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
The global precision weeding market has been segmented by different types, among which weed detection platform held around 79% and weed management held around 21% of the total production in 2023 in terms of value. Some of the prominent established names in this market are:
Company Type 1 (by Type): Weed Detection Platform
- Deere & Company
- Trimble Inc.
- One Smart Spray
- WEED-IT
- Ecorobotix SA
- Naio Technologies
- Latitudo 40
- Others
Company Type 2 (by Type): Weed Management
- XAG Co. Ltd.
- Carbon Robotics
- FarmWise
- AGCO Corporation
- AgEagle Aerial Systems Inc.
- Erisha Agritech
- Others
Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2024-2034 |
| Estimated Market Value (USD) in 2024 | $2.08 Billion |
| Forecasted Market Value (USD) by 2034 | $10.65 Billion |
| Compound Annual Growth Rate | 17.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/yawq52
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